Yahoo shares today reached a five-year high. The sudden spike in Yahoo’s shares comes as a surprise even though there were mixed earnings report.
Yahoo did however manage to beat the profit estimates but that doesn’t seems to be the only reason for the market to cheer for Yahoo. Yahoo has indeed performed really well and Yahoo’s CEO Marissa Mayer too acknowledged that the company has “a lot of work to do”.
Yahoo’s shares has currently gained more than 9.5 percent and is trading at $29.46.
Yahoo’s stock did reach a day high of $29.73.
And on a happier note, Marissa Mayer has really got off on a good start for her second year as Yahoo’s CEO.
Yahoo Inc. also announced it has acquired Admovate, a mobile advertising technology company.